Investing in and owning real estate still holds promise if you’re smart about it, despite what the naysayers might tell you, reports the Winnipeg Free Press.
As average prices continue their upward trend, there is growing concern real estate may no longer be the cash-producing asset that it once was.
But many industry analysts believe that it could become the exact opposite soon. This list includes Pimco’s Ed Devlin, who recently forecasted that residential real estate in Canada could fall between 10-20 per cent in the next three to five years.
Despite many negative predictions, SRE Securities president Andrew Moffs firmly believes that we are still in the midst of real estate recovery, powered by the U.S. market. Although a bubble scenario remains a concern, investors who perform their due diligence can still earn some good returns.
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